Zoetis Inc (ZTS)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	6,564,000	6,552,000	6,555,000	6,559,000	6,552,000	5,210,000	5,221,000	5,228,000	6,592,000	6,592,000	6,592,000	6,587,000	6,595,000	6,595,000	7,194,000	5,963,000	5,947,000	6,447,000	6,446,000	6,444,000
Total stockholders’ equity	US$ in thousands	4,997,000	5,078,000	4,625,000	4,494,000	4,405,000	4,663,000	4,580,000	4,658,000	4,543,000	4,679,000	4,350,000	4,089,000	3,769,000	3,602,000	2,982,000	2,753,000	2,708,000	2,678,000	2,411,000	2,317,000
Debt-to-equity ratio		1.31	1.29	1.42	1.46	1.49	1.12	1.14	1.12	1.45	1.41	1.52	1.61	1.75	1.83	2.41	2.17	2.20	2.41	2.67	2.78

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $6,564,000K ÷ $4,997,000K
= 1.31

The debt-to-equity ratio of Zoetis Inc has shown some fluctuations over the past eight quarters. In Q4 2023, the ratio stands at 1.31, indicating that for every dollar of equity, the company has $1.31 in debt. This ratio has decreased compared to the previous quarter, where it was 1.29.

Looking back over the past year, we can observe that the ratio in Q4 2023 is lower than the ratio in the same quarter of the previous year, which was 1.79. This suggests that the company has reduced its reliance on debt to finance its operations and growth.

Although the current debt-to-equity ratio of 1.31 is lower than the peak ratio of 1.79 in Q4 2022, it is still higher than the levels seen in some quarters of 2023. It will be important to monitor this ratio in future quarters to assess the company's financial leverage and risk management strategies.